UBS Group Trims Applied Materials (NASDAQ:AMAT) Target Price to $100.00

Applied Materials (NASDAQ:AMATGet Rating) had its price objective reduced by UBS Group from $120.00 to $100.00 in a research report report published on Tuesday morning, The Fly reports. They currently have a neutral rating on the manufacturing equipment provider’s stock.

AMAT has been the subject of a number of other reports. StockNews.com raised Applied Materials from a hold rating to a buy rating in a research report on Monday. Deutsche Bank Aktiengesellschaft dropped their price target on Applied Materials from $145.00 to $135.00 in a research note on Friday, May 20th. Cowen lowered their target price on Applied Materials from $190.00 to $160.00 in a research note on Friday, May 20th. Cowen set a $160.00 price target on Applied Materials in a report on Monday, June 20th. Finally, Piper Sandler reduced their target price on Applied Materials from $153.00 to $132.00 and set a neutral rating for the company in a research note on Friday, May 20th. Eight investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Applied Materials currently has an average rating of Moderate Buy and a consensus price target of $151.27.

Shares of AMAT opened at $90.98 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 1.54. Applied Materials has a 1 year low of $87.62 and a 1 year high of $167.06. The stock has a 50 day simple moving average of $106.86 and a two-hundred day simple moving average of $126.85. The firm has a market cap of $79.15 billion, a P/E ratio of 12.13, a P/E/G ratio of 1.46 and a beta of 1.43.

Applied Materials (NASDAQ:AMATGet Rating) last issued its quarterly earnings results on Thursday, May 19th. The manufacturing equipment provider reported $1.85 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.05). Applied Materials had a return on equity of 57.17% and a net margin of 27.20%. The firm had revenue of $6.25 billion during the quarter, compared to analysts’ expectations of $6.35 billion. During the same period in the previous year, the company earned $1.63 earnings per share. Applied Materials’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities analysts anticipate that Applied Materials will post 7.49 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, August 25th will be issued a dividend of $0.26 per share. The ex-dividend date is Wednesday, August 24th. This represents a $1.04 dividend on an annualized basis and a yield of 1.14%. Applied Materials’s payout ratio is 13.87%.

Applied Materials announced that its Board of Directors has initiated a share buyback plan on Friday, March 11th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the manufacturing equipment provider to reacquire up to 5.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP raised its stake in Applied Materials by 14.8% during the third quarter. Wellington Management Group LLP now owns 20,723 shares of the manufacturing equipment provider’s stock worth $2,667,000 after acquiring an additional 2,667 shares in the last quarter. Willis Investment Counsel bought a new position in shares of Applied Materials during the 3rd quarter worth approximately $4,219,000. Wealthsource Partners LLC lifted its holdings in shares of Applied Materials by 45.0% in the 3rd quarter. Wealthsource Partners LLC now owns 7,937 shares of the manufacturing equipment provider’s stock worth $1,022,000 after purchasing an additional 2,465 shares in the last quarter. Segall Bryant & Hamill LLC lifted its holdings in shares of Applied Materials by 49.5% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 67,524 shares of the manufacturing equipment provider’s stock worth $8,701,000 after purchasing an additional 22,354 shares in the last quarter. Finally, IMS Capital Management bought a new position in shares of Applied Materials in the 4th quarter worth $205,000. 77.90% of the stock is owned by institutional investors and hedge funds.

Applied Materials Company Profile (Get Rating)

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.

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